D&O (Directors and Officers)
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Errors and omissions claims made up 55% of all notifications, continuing a five-year trend. -
The carrier will focus on mid-market business outside of Lloyd’s.
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The MGA is building out its product base from its latent defects and surety offering.
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The reinsurer said the market was unprofitable and pricing needed to increase immediately.
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The move was influenced by fierce competition in the domestic US D&O market.
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PartnerRe's $5mn commitment will enable the MGA to expand its D&O line size.
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Larger companies ranked regulatory breach as their top risk.
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The London wholesaler rebranded from GAWS of London in March last year.
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The facility is backed by a $10mn Lloyd’s binder.
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The carrier’s US platform will continue to be led by long-time executive Sal Pollaro.
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The average change for primary policies with the same limit and deductible was a 3.5% decrease.
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The offering will provide D&O, professional indemnity/errors and omissions, crime and cyber cover.
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